§ Miss LestorTo ask the Chancellor of the Exchequer what is the United Kingdom's annual contribution to the International Monetary Fund.
§ Mr. NelsonThe United Kingdom makes no direct annual contribution to the International Monetary Fund. As a member of the IMF, the United Kingdom maintains a reserves position with the IMF. Of this SDR 700 million—equivalent to £653 million—is unremunerated. The balance is remunerated at the fund's rate of remuneration. At end September 1994, the United Kingdom's reserve position in the IMF stood at SDR 1,354.3 million—equivalent to £1264 million.
§ Miss LestorTo ask the Chancellor of the Exchequer what is the United Kingdom's annual contribution to the IMF's(a) structural adjustment facility, (b) enhanced structural facility and (c) other relevant facilities.
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§ Mr. NelsonThe only specific IMF facility to which members contribute directly is the enhanced structural adjustment facility—ESAF. Over the life of the facility, the United Kingdom will contribute up to £377 million to the subsidy required for ESAF loans. This amount includes a contribution of the £50 million made earlier this year when the facility was expanded and enlarged. Over time, the United Kingdom will contribute about one-ninth of the subsidy required by ESAF. In 1993–94, a payment of £20 million was made under these arrangements.